Equus Announces the Acquisition of a 300,075 Square Foot Industrial Park in the Greater Boston Market
Equus Capital Partners, Ltd. (“Equus”) announced today that an affiliate has acquired the 300,075 square foot Centech Park North, in Shrewsbury, Massachusetts, within the Greater Boston market. The acquisition was completed through a programmatic joint-venture.
Developed by NorthBridge Partners and completed in 2023, Centech Park North is comprised of two Class A industrial properties, each of which includes excess power capacity of 4,000 amps per building, ESFR sprinkler systems, LED lighting, 36-foot clear heights, modern loading configurations, and excess trailer parking. Designed to accommodate warehouse, distribution, and light manufacturing users, the park is currently 100% leased to a diverse tenant roster spanning the life sciences, advanced manufacturing, and commercial services sectors.
Located in Shrewsbury, Massachusetts, approximately 40 miles west of downtown Boston and less than eight miles from Worcester, Centech Park North is positioned at the intersection of Interstate 90, Interstate 290, Interstate 495, and Route 9, providing access to major population centers throughout New England and the broader Northeast corridor. The properties are also located within five miles of FedEx Ground and UPS parcel hubs.
Greater Boston is supported by a highly educated workforce with demand from technology, life sciences, healthcare, advanced manufacturing, and logistics users. The Boroughs submarket, where Centech Park North is located, is one of the most supply-constrained industrial corridors in the region and has consistently maintained some of the lowest vacancy rates in Greater Boston.
“Centech Park North represents a compelling opportunity to acquire a recently developed Class A industrial park in one of Greater Boston’s most supply-constrained and fundamentally strong industrial submarkets. The properties enjoy convenient access to population centers throughout Greater Boston and New England. Centech Park North aligns exceptionally well with our investment strategy of acquiring high-quality industrial assets positioned for long-term growth with the flexibility to accommodate large and small users alike given its shallow-bay configuration and ease of division” said Keith Hontz, Senior Vice President of Equus, who along with Shane Mullen, Analyst, oversaw the acquisition.